Time is one of our most precious resources, which is why we need to use it as wisely as possible. Unlike money, we can’t earn back the time that’s already been spent – it can never be recreated or re-spent, once it’s gone, it’s gone.
That’s all we get, just 24 hours. Time is the greatest equalizer because not a single person can have more of it. And that’s precisely why passive income is so important — because time is more valuable than money.
When you’re running a business, your top priorities are most likely profit and success, and part of that involves making the most of your time, using it in the right areas to grow your business in the most effective way, and creating the freedom that you desire.
Passive income is arguably one of the most important and central ways that the rich are getting richer. It’s how you detach your ability to earn from the time that you do have in a day. If you’ve ever heard the term, making money while you sleep, no truer words have been spoken. With passive income, you do make money while you sleep. You also make money while you’re awake. It’s automatic and simply keeps coming in.
A passive income is something that many people aspire to achieve. It’s a regular form of income that requires little maintenance or effort on your behalf, and most importantly, it’s not reliant on you inputting your time on a daily or hourly basis. This type of income will generate on its own, which allows you to focus on other areas of your life or business and quite literally make money while you sleep.
If you currently only rely on an active income, here’s a little more insight into the importance of a passive income and how to achieve it.
Diversification is key, that’s why it’s always better to have income coming from multiple places so that you constantly stay afloat in case of rainy days or if one source of income dries up.
While passive income might not be the answer to all of your immediate problems, it is the pathway to success and most certainly the foundation for wealth and happiness. Securing the future will exclude the uncertainty of how to deal with the unprecedented, and whether the world will behave tomorrow in the way it behaved in the past. This past patterns can repeat or deflect unpredictably affected by third party actions. That said let us sample it on Gold price.
Gold price took a stratospheric leap this week, jumping from last week’s support test at 1800 to the 1900 level that hasn’t been traded at since 2011. This psychological level has since helped to slow the advance.
Gold prices have one last resistance ahead and that’s the high that was set in 2011 at the 1920 level.
While the monetary backdrop has seemingly supported metals for much of the past four months, next week’s economic calendar brings an FOMC rate decision on Wednesday, and this theme will be in full focus on the global stage.
Overbought markets can be complicated things: while the backdrop is less assuring for continuation, there’s usually a reason for why the market became overbought in the first place. And, those reasons can certainly continue, just as we have seen in Gold price movements recently.
The combined, unprecedented monetary and fiscal stimulus measures of both the Federal Reserves and US Federal Government within such a short period of time could result in price growth spiking. While many geopolitical and economic complications could derail the recovery, the narrative of continual improvement and future expectations may continue to support gold’s rally at least in the week ahead.
Market volatility and uncertainty displays the importance of maintaining your financial freedom.
When you have the time to choose to work or spend those precious moments with your children or go on some trip halfway around the world, you’re free. You’re free in the greatest sense of the word. Isn’t all the headache and the hassle worth that? Isn’t it time to break those chains that have restrained you to a life that’s been less fulfilled? We would think so. And we would imagine that if you truly are serious about getting rich in life, then you’ll embrace the passive-income machine.
Over the past 10 years, we have generated passive income for our clients ranging from 14% to 40% per annum. Please feel free to reach out to AIX Investment Group and we will be happy to appoint one of our Financial Advisors to direct you towards building your financial freedom!